The UK government spent approximately five billion British pounds on pension credit in 2022/23. Since the introduction of pension credit on October 6, 2003 expenditure on pension credit peaked in the early 2010s but has been declining since then.
Government expenditure on pension credit in the United Kingdom from 2003/04 to 2022/23
(in million GBP)
Characteristic
Expenditure in million GBP (in real terms)
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Department for Work and Pensions UK, & GOV.UK. (April 25, 2023). Government expenditure on pension credit in the United Kingdom from 2003/04 to 2022/23 (in million GBP) [Graph]. In Statista. Retrieved July 03, 2024, from https://www.statista.com/statistics/284413/pension-credit-united-kingdom-uk-government-spending/
Department for Work and Pensions UK, und GOV.UK. "Government expenditure on pension credit in the United Kingdom from 2003/04 to 2022/23 (in million GBP)." Chart. April 25, 2023. Statista. Accessed July 03, 2024. https://www.statista.com/statistics/284413/pension-credit-united-kingdom-uk-government-spending/
Department for Work and Pensions UK, GOV.UK. (2023). Government expenditure on pension credit in the United Kingdom from 2003/04 to 2022/23 (in million GBP). Statista. Statista Inc.. Accessed: July 03, 2024. https://www.statista.com/statistics/284413/pension-credit-united-kingdom-uk-government-spending/
Department for Work and Pensions UK, and GOV.UK. "Government Expenditure on Pension Credit in The United Kingdom from 2003/04 to 2022/23 (in Million Gbp)." Statista, Statista Inc., 25 Apr 2023, https://www.statista.com/statistics/284413/pension-credit-united-kingdom-uk-government-spending/
Department for Work and Pensions UK & GOV.UK, Government expenditure on pension credit in the United Kingdom from 2003/04 to 2022/23 (in million GBP) Statista, https://www.statista.com/statistics/284413/pension-credit-united-kingdom-uk-government-spending/ (last visited July 03, 2024)
Government expenditure on pension credit in the United Kingdom from 2003/04 to 2022/23 (in million GBP) [Graph], Department for Work and Pensions UK, & GOV.UK, April 25, 2023. [Online]. Available: https://www.statista.com/statistics/284413/pension-credit-united-kingdom-uk-government-spending/